Demand for non-life insurance: A cross-country analysis
AbstractA number of existing studies on insurance demand report an apparently pathological result that insurance is a luxury good. Using cross-country insurance data and national wealth data, we resolve this spurious puzzle. While we found that the income elasticity of insurance demand is larger than unity, the wealth elasticity of insurance demand is smaller than unity at least for upper-middle and high wealth countries.
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Bibliographic InfoPaper provided by CIRJE, Faculty of Economics, University of Tokyo in its series CIRJE F-Series with number CIRJE-F-461.
Length: 11 pages
Date of creation: Jan 2007
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